Panama Papers data leak causes worldwide fallout

Facebook Twitter Plusone Pinterest Linkedin Tumblr Digg Email

This Sunday the International Consortium of Investigative Journalists published a leak of 11.5 million confidential documents from a law firm in Panama obtained by an anonymous source. The documents are said to have exposed the secret off-shore accounts of some of the world’s most powerful people, at least 12 current or former world leaders and 128 other politicians and public officials.
Notable names on the list include relatives of Chinese President Xi Jinping, associates of Russian leader Vladimir Putin, and Sigmundur David Gunnlaugsson, the prime minister of Iceland, who stepped down from his position following the story’s release. Although it is not illegal to have an offshore account the assumption is that these accounts were used to conceal wealth or avoid taxes.
The documents have not been made completely public but have the source for many news articles. Several countries such as Britain, France, Australia and Mexico have vowed an investigation into the allegations.
As yet, only a handful of suspicious names from the United States have been found to be heavily invested in the bank.

Facebook Twitter Plusone Pinterest Linkedin Tumblr Digg Email